A case study of CTO-as-a-Service
Unlike many cryptocurrency projects that only wanted to pump and dump, PrivacySwap knew from the get-go that it wanted to scale and stay sustainable long-term. The founding team behind the young DeFi project already consisted of competent developers, but they were lacking the advanced technical expertise needed to move the project forward. With time and limited funds working against them, getting a full-time Chief Technology Officer on board was out of the question.
Fortunately, they came across Privacy Ninja’s CTO-as-a-Service. They leveraged on the affordable yet comprehensive scope of work the service has to offer. By outsourcing this responsibility to an experienced third-party, akin to being a partner, the PrivacySwap team was able to focus on building stronger features. Additionally, they saw their early milestones achieved despite the market fluctuations.
What is CTO-as-a-Service?
CTOaaS, also known as CTO-as-a-Service, refers to part-time tech and business consultancy services provided by a Chief Technology Officer to aid a startup or a company.
The Chief Technology Officer (CTO) is responsible for managing an organisation’s current technology architecture and for drafting relevant policies. While hiring a full-time CTO is ideal, it comes with a hefty price tag. Many companies cannot afford it.
What problems are solved by the CTO-as-a-Service model?
Different companies have different technical and digital requirements. However, these issues typically fall into four common categories:
- Full-time CTOs are expensive – When you hire in-house, you will increase your burn rate and shorten your runway.
- It’s difficult to find and retain a talented CTO – There’s a shortage of capable CTOs in the market.
- Onboarding a new CTO takes time and money – You lose precious time, effort, and resources hiring a new CTO when your current CTO leaves.
- It’s hard to look for a co-founder who is competent in tech – It’s not easy to look for that perfect candidate with the technical knowhow to move your company into the tech age.
When companies choose to outsource their CTO, the problems above are addressed. For instance, at Privacy Ninja, our CTO-as-a-Service offers the following solutions:
- Help kick start the automation process
- Build standalone solutions
- Enhance existing solutions
- Accelerate the building of your minimum viable product
- Identify KPIs and create timelines and roadmap
- Work within the company’s budget
- Facilitate risk assessment and due diligence as part of the GTM strategy
- Provide manpower and developers as needed
Moreover, with the CTO-as-a-service model, organisations can self-assess their digital readiness and requirements at any time and from any location, access market-proven and cost-effective digital solutions, and engage expert business consultants for in-depth advisory and project management services.
Who is it for?
The CTO-as-a-Service model can be leveraged by organisations that want to:
- Know how to get started with digitalization;
- Understand what type of solutions to use for its unique business challenge; or
- Choose the solution that best matches its requirements.
CTO-as-a-Service: must have skills in choosing your CTO
Years of experience
It is not only about the years. Even after 15 years in software development, a person can still be considered a middle-level professional. The practical background is one of the most important factors to consider.
When you look at your CTO’s technical skills, you should also look at the technical skills your project needs. For example, if you are working on a web product, your CTO doesn’t have to have experience with mobile development, but it would be a plus. Your CTO is an experienced professional who can work on your product if he or she has a wide range of skills.
A CTO is very different from a developer with a lot of experience. The CTO should understand not only the technical side of the project but also the business side. This is a person who offers solutions based on his experience and chooses tech solutions that will really help solve the current business problem.
CTOs are the people who oversee the work of other employees, present their business and technical ideas to the founders and a team and pitch the product to investors. A CTO won’t be able to do their jobs if they don’t have excellent soft skills.
Critical analysis skills
It’s great to keep up with changes in technology and want to use new tools. But every CTO should be able to differentiate hyped-up solutions and trends with a critical eye and choose only those technologies that can help increase productivity and make a successful product.
Big picture thinker
While the rest of the team works on the product details, the CTO should be able to think strategically and see the big picture to take the right steps to reach the end goal.
5 benefits of CTO-as-a-Service
Numerous startups, and both small or medium businesses, require CTOs. However, they cannot afford to employ one full-time. Consequently, employing a part-time or outsourced CTO can be an excellent choice. You receive all necessary services at a reasonable cost.
2. No need to recruit
Working with an external CTO does not incur additional costs. On the contrary, when hiring an in-house CTO, you will be responsible for recruiting costs, office rent, and labor taxes. When outsourcing CTO responsibilities, you only pay for the services and effort you require.
3. Bigger pool worldwide
Outsourcing expands your selection of available experts. Additionally, as explained, hiring a virtual CTO greatly reduces overheads.
By utilising an outsourced CTO, you gain access to an impartial professional, who has everything to gain soley based on a successful outcome.
5. Enhanced agility
It is feasible to develop a company without a CTO. However, such a journey would be lengthy based on trial and error. Even a small number of professional consultations can help troubleshoot the fundamental business and technological challenges. With this, you might obtain critical ideas for starting or expanding your business much more quickly.
The Privacy Ninja advantage
As mentioned above, outsourcing your CTO requirements to Privacy Ninja gives you the assurance that you can achieve your business goals efficiently and affordably. Our resident CTO, Dexter Ng, has more than 10 years of experience working with tech startup companies in Singapore and abroad. Under his watch, these companies were provided with cutting edge technology and ideas. He is also competent in the areas of technical development, business consulting, project management, and data protection.
Under this model, there are two types of services you can harness:
- Dedicated hourly consultation – if you just need a quick discussion to validate your roadmap. Choose this to tap on our expertise to get immediate actionables you need instantly.
- Bespoke CTO-as-a-Service – if you require monthly or longer term engagements from us.
We will fulfil your digital requirements at different stages of your business growth. Whether you’re a young startup with technology at your core, or an SME seeking digital adoption, we will help you meet your objectives quickly.
Ready to kick start your digitalisation journey? Outsource your CTO responsibilities to us today!